For immediate release
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NEW YORK, May 28, 2019—The Insurance Information Institute (I.I.I.) today released its just-updated A Firm Foundation: How Insurance Supports the Economy. The 2019 edition is now available online free of charge.
“Insurance is the lifeblood of any developed economy, as it enables individuals, businesses and even governments to transfer risk to further invest and grow,” said Sean Kevelighan, the I.I.I.’s CEO. “Research shows that the most prosperous countries in the world also have the highest penetration of insurance. Part of the I.I.I.’s mission is to help more Americans realize the extraordinary impact the insurance industry has on their daily lives as well as the communities where they work and live. This report puts a spotlight on the industry’s contributions to the U.S. economy.”
A Firm Foundation: How Insurance Supports the Economy contains charts and tables which highlight the vital roles played by insurers, whether it is helping communities recover financially from major catastrophes or investing in municipal bond markets. In addition, the report delivers a snapshot of the industry’s economic impact in every U.S. state.
The U.S.’s property/casualty (P/C) insurers, a group consisting of auto, home, and business insurers, as well as life insurers, are major employers, investors, and taxpayers, according to the 2017 data included in the 76-page report. The numbers below exclude U.S. health insurers’ economic contributions.
A Firm Foundation: How Insurance Supports the Economy is updated continuously by the I.I.I. as new information becomes available.
THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.
Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500; www.iii.org